MILAN (Reuters) – The board of directors of Banco Bpm (BIT:) today resolved to proceed with a project to enhance the e-money business aimed at defining a potential partnership with a primary market operator which will involve both merchant acquiring and POS management and the issuing and distribution of payment cards.
This is what we read in a press release.
From the non-binding expressions of interest received so far by the bank from leading market operators, it emerges that the e-money business is capable of expressing an overall valuation potential in terms of “NPV” of over 2 billion euro.
The note adds that the BoD has given a mandate to the CEO to continue the discussions in progress with the aim of identifying the potential partner within the first half of the year and defining a binding Termsheet.
(Giancarlo Navach, editing Claudia Cristoferi)